TiPS first Foundational Acceleration Demo Day showcases firms’ successes
The first cohort of firms to undertake the TiPS (Technology in Professional Services) Foundational Acceleration held an end-of-programme, online Demo Day event on 10th May. Participants from mid-tier and small law and accounting firms presented to one another, and to the TiPS team, the innovations they had developed.
The firms had used their free training and support on Microsoft 365 Power Automate to create flows that allowed them to automate processes such as:
- The creation and internal distribution of risk assessment documents
- The collation of documents for tax returns, with an estimated reduction of 50-65% of time spent per document with 95% accuracy, as well as standardising format to connect to external platform such as Xero.
- The issuing of targeted alerts from a pooled email inbox.
In some cases, the opportunity to understand the potential of the technology had stimulated more wide-ranging initiatives about the strategic role of technology within their firms. The TiPS accelerator programme for fee-earning ‘users of tech’ such as lawyers, allowed the professionals themselves to take a lead in the innovation process, rather than leaving technology to technology specialists, and to move resources for innovation up the agenda.
The TiPS programme also offered a great opportunity for peer learning, where advanced solutions and ‘know-how’ were not only directly shared between the cohort participants, but also used by the TiPS team to tailor the current cohort’s support, and generated great resources and examples for future cohorts.
TiPS are now recruiting firms for future cycles of free Foundational Acceleration. If you would like to accelerate your firm’s adoption of widely available technologies such as Microsoft 365 tools, then apply on the TiPS website by 6th June 2024.
Selected insights into the progress made by UK Property Accountants, Woolley Beardsley and Bosworth, and Excello Law are provided in the presentations shown below.
Woolley Beardsley and Bosworth
Excello Law
UK Property Accountants